Obama Proposes Low-Income Tax Cuts in FY 2015 Budget

I'd say he is trying to strengthen the base of the consumer economy and address the issue of income equality. You know, make life better for more Americans and ensure the future for their children.

 

/Thread

 

We don't need an expansion of EIC, which is a huge contributor to Tax related identity theft.

 

Good point. We also probably don't want to create more income equality. Having wealth is a huge contributor to getting robbed, so I hear.

 

bigtexxx likes tax breaks, even for the poors

good job, Obama!

 

I too enjoy tax breaks for people of my kind.

 

We really should balance the budget before giving more tax cuts, IMO.

 

not mutually exclusive

 

I completely agree but unless something really radical happens, it just isn't going to happen.

 

I propose we roll w this and drop mortgage interest deduction on homes over 750k/cap and all second homes.

 

Tax cuts will result in lower revenues, resulting in more deficit spending. I'm sorry you are unable to comprehend math, but they are mutually exclusive given the budget realities facing us right now.

 

Unless you also cut spending...

 

Have I stumbled into some bizzarro world alternate universe??

 

If you can find $500 billion plus the amount that these tax cuts will cost to remove from the federal budget, feel free to detail the cuts you would make. From my perspective, it will take a combination of tax hikes and spending cuts to balance the budget, but that's only if you believe in mathematics.

 

No, texx will support tax cuts every time while I am more interested in balancing the budget so that we can pay down the debt and begin to eliminate the interest expense line item (over $200 billion in 2012) from the federal budget.

 

I was just pointing out that bigtexxx was correct when he said that balancing the budget and giving tax cuts aren't mutually exclusive. It's possible with enough cuts in spending.

But instead of realizing this, you immediately accused him of being unable to comprehend math.

Ironic, isn't it?

 

This is a political move designed to get Republicans to oppose tax cuts.

 

Robin Hood....

 

This is throwaway analysis - the Republicans oppose every policy he makes or proposes regardless of merit so every move is "political" - in some sense.

Are you suggesting that he actually doesn't want/won't sign a bill promising tax relief for low income Americans?